S&P Global Ratings projects India's economy to grow at 6.3 per cent even if crude oil prices average USD 130 per barrel in the current fiscal year, highlighting the nation's resilience amidst the West Asia crisis and strong commitment to fiscal consolidation.
Moody's Ratings on Tuesday said tax cuts in the current fiscal has dented India's revenue growth, leaving less scope for fiscal policy support for the economy.
The new UPI IDs will follow formats such as abc.bkr@validhdfc or xyz.mf@validhdfc. For easier recognition, they will also carry a white 'thumbs up' icon inside a green triangle.
Social media feeds and immigration forums lit up with questions from workers and families who feared they might be stranded abroad, unable to return to their jobs or reunite with loved ones.
'Geopolitically and diplomatically it's a very difficult situation for India.'
Aayush will represent India on Rosatom's Arctic expedition aboard the 50 Let Pobedy nuclear icebreaker.
The FATF statement comes in the backdrop of Indian authorities highlighting Pakistan's persistent support for terrorism and its funnelling of multilateral funds for arms procurement.
A large number of medical device-manufacturing units have been forced to move to Vietnam and Malaysia due to delays, inconsistent timelines, and a lack of transparency in licensing processes, according to the Parliamentary Standing Committee on Health and Family Welfare.
Prime Minister Narendra Modi on Wednesday urged all stakeholders to come together and invest in people for skill development, nurturing talent and promoting innovation which are essential for job creation and boosting the economy. Participating in post-Budget webinar on employment, Modi said the government has provided skill training to 3 crore youth since 2014 and decided to upgrade 1,000 ITIs and set up five centres of excellence.
In September last year, India received financial information from over 108 countries regarding foreign accounts and income in the form of interest and dividend earned outside India.
India Ratings on Thursday said that any broad-based or strong recovery in corporate capital expenditure was unlikely in the upcoming financial year 2026 (FY26) due to uncertainty of domestic and external demand. The uncertainty is adversely affecting the overall corporate sector capex. Interest rates on credit are not the primary deterrent to decisions about capital expenditure, said Soumyajit Niyogi, director, core analytical group, Ind-Ra, in a webinar on the credit market outlook.
The gig economy market is expected to grow at a compound annual growth rate (CAGR) of 17 per cent to reach a gross volume of $455 billion by the end of 2024, according to a white paper by The Forum for Progressive Gig Workers. Estimates suggest the gig economy has the potential to create 90 million jobs and add 1.25 per cent to India's GDP (gross domestic product) over time.
With an expected earnings growth of 15 per cent, benchmark index Nifty 50 may hit 24,500 level by December 2024 and move further to surpass the level of 26,500 by December 2025, Emkay Investment Managers said on Tuesday. The 50-share Nifty settled at 22,888.15 on Tuesday. In the previous day, it hit a new lifetime peak of 23,110.80.
Dr Dipankar Dutta will answer your questions related to preparing for a career in engineering or technology.
S&P Global Ratings on Friday said it will watch the fiscal numbers for the next 1-2 years, besides pro-growth policies of the new government, before deciding on India's sovereign rating upgrade. S&P, which earlier this week upgraded India's outlook to positive while retaining the sovereign rating at BBB-, expects the new government to continue with pro-growth policies, infrastructure investment and commitment to fiscal consolidation.
Indian economy is expected to clock an average growth rate of 6.7 per cent till 2026-27 fiscal driven by domestic consumption, S&P Global Ratings senior Economist (Asia Pacific) Vishrut Rana said on Wednesday. He said the economic growth in the current fiscal is expected to come in around 6 per cent, lower than 7.2 per cent clocked in 2022-23. "We are seeing some headwinds from the trade side which is affecting activity and that is one of the factors that is affecting growth this year," Rana said at a webinar.
Prime Minister Narendra Modi on Tuesday asked financial institutions to come out with innovative and futuristic financing as well as risk management ideas to fund the emerging needs of the economy. Stating that implementation of green financing is the 'need of the hour' to meet net-zero carbon emissions target by 2070, Modi said financial help should be extended to environment-friendly projects. "Our financing sector will have to look into new futuristic ideas, initiatives and think of innovative financing and sustainable risk management ideas," Modi said in a post-Budget webinar on 'Financing for growth and aspirational economy'.
Indian airline industry is expecting to prune its net losses to Rs 3,000-5,000 crore in this fiscal from an estimated Rs 17,000-17,500 crore in FY2023 on the back of improved yields and stable cost environment, credit ratings agency ICRA said on Tuesday. At the same time, ICRA also estimated that domestic air passenger traffic will expand by 8-13 per cent each in FY2024 and FY2025. The rating agency has also maintained its stable outlook on the industry in view of healthy passenger traffic growth, improved yields and a stable cost environment.
The Centre must bring an "all-encompassing" policy to protect the interests of the consumers as well as offline traders and small traders, he said, underlining that the proposed consumer protection e-commerce rules are "inadequate" to address the issue. The Swadeshi Jagaran Manch (SJM) is an affiliate of the Rashtriya Swayamsevak Sangh (RSS).
S&P Global Ratings on Tuesday said there will not be any significant direct financial spillover risks because of the problems being faced by the Adani group, though there can be some secondary impact such as banks undertaking extra due diligence while giving loans to corporate. S&P senior director (infrastructure & utilities ratings), Abhishek Dangra said as per external estimates, the exposure of the banking sector to Adani group companies is less than 1 per cent and also the credit ratings of the firms are not at 'distress level'.
An Indian-origin CEO of a US-based homeownership company has abruptly fired more than 900 employees, about 9 per cent of its workforce, on a Zoom webinar, citing market efficiency, performance and productivity as the reasons behind the move. On a Zoom webinar last Wednesday, Better.com CEO Vishal Garg abruptly announced that the mortgage company is laying off about 9 per cent of its workforce, CNN reported. Garg cited market efficiency, performance and productivity as the reason behind the firings, the report said.
A resolution commemorating the life of Indian human rights defender Father Stan Swamy and seeking an independent investigation into the death of the Jesuit priest has been introduced in the US Congress, Congressman Juan Vargas has said.
His remarks assume significance at a time when a large number of Indian students, many of them studying medicine, have been stuck in Ukraine following the Russian attack on that country.
New-age tech tools and 'mystery shoppers' are helping the country's top bourse stay ahead of the curve against dabba trading platforms and entities dolling out unsolicited investment tips. In the past one month, the National Stock Exchange (NSE) has issued close to two dozen warnings and advisories against such activities. "We saw a rise of dabba trading or illegal trading platforms after the pandemic.
Use the expertise of former players as much as possible in the state teams' cricketing set-up was one of the notable suggestion by National Cricket Academy head Rahul Dravid while interacting with members of affiliated units during a webinar organised by the BCCI.
Former Reserve Bank of India Governor Duvvuri Subbarao has said the central bank could lose control over money supply and inflation management if cryptocurrency is allowed in the country. Speaking at a webinar organised by the National Stock Exchange (NSE) and New York University (NYU) Stern School of Business, Rao also said India's case for issuing a central bank digital currency (CBDC) may not be strong as there are capital controls. "Crypto is backed by algorithms and there is fear that the central bank might lose control over money supply and inflation management.
Hosabale blamed the "faulty' economic policies of the earlier governments for the "ills" in the economy.
During the webinar, 'COVID-19: Vaccination and Potential Return to Normalcy - If and When', Dr Hotez, an internationally-recognised physician-scientist in neglected tropical diseases and vaccine development, said that the COVID-19 vaccine rollout is "India's gift' to the world in combating the virus.
More than 60 small and medium enterprises (SMEs) are expected to tap the market in one year to raise equity funds for supporting their business requirements, a BSE top official said on Wednesday. These companies will get listed on the exchange's SME platform, Ajay Thakur, head of BSE SME and Startup told PTI. Last year, only 16 SMEs had tapped the initial public offering (IPO) route and raised Rs 100 crore.
'High-value homes are designed and built on slum lands and slums are given residue. They do not have access to free air and live in close proximity of others.'
5G ambulances will not just allow remote consultation, but would also be able to transit data and video to hospitals in real time, saving precious time for critical patients. 5G technology would also support the development of new educational applications, improve agriculture productivity, and aid search and rescue missions with high resolution cameras in disaster recovery zones.
India has built up buffers against cyclical difficulties and has ample foreign exchange reserves to withstand pressure on credit worthiness, S&P Global Ratings said on Thursday. Speaking at the India Credit Spotlight 2022 webinar, S&P Sovereign & International Public Finance Ratings director Andrew Wood said the country has a strong external balance sheet and limited external debt, making debt servicing not so expensive. "The country has built up buffers against cyclical difficulties like those, which we are experiencing right now," Wood said.
"Now the gof India has decided to soon initiate procurement from local industries to reduce import dependence," he said. Reddy, the Union Minister of State for Home, said for many years India was dependent on worldwide Original Equipment Manufacturers (OEMs) for procuring arms and ammunition.
Prime Minister Narendra Modi on Friday stressed on increasing credit flow to businesses to meet the needs of a fast reflating economy and said financial products will have to be tailor-made for fintech and startups. He said that although the government's endeavour is to promote the private sector, public sector presence in banking and insurance is also required.
The government is targeting 1,200 technical collaborations between Japanese companies and Indian investors for over Rs 42,000 crore, 200 joint ventures with overseas investors for Rs 14,000 crore, and another Rs 14,000-crore investment from about 50 multinational companies.
Richest Indian Gautam Adani's group, which has grown on acquisitions, has fairly solid fundamentals but debt-funded future acquisitions can start putting pressure on ratings, S&P Global Ratings said on Thursday. Starting out as a commodities trader in 1988, the Adani group has diversified from mines, ports and power plants into airports, data centres and defence. It recently forayed into the cement sector with a $10.5 billion acquisition of Holcim's India units and is also looking to set up an aluminium factory. Most of this expansion has been funded by debt.
Heads of various public and private sector banks on Thursday sought to present a counter-narrative on RBI Governor Shaktikanta Das warning lenders about the perils of extreme risk aversion in the pandemic-stricken environment where credit demand is on the wane.
Xi Jinping, general secretary of the Chinese Communist party, attended the opening session of the National People's Congress, his country's parliament, at the Great Hall of the People in Beijing, March 5, 2022.
Dravid was the last Indian captain to win a Test series in England.
Are breakthroughs on this imminent, asks Ajit Balakrishnan.
